TAILIEUCHUNG - Corporate Social Responsibility: A Government update

A variety of evidence supports the role of design in enhancing firm performance. New research undertaken for this study also shows that firms with higher design intensity have a greater probability of carrying out product innovation and that design expenditure has a positive association with firm productivity growth. Nonetheless, the multifaceted nature of design makes it difficult to isolate from more traditional factors affecting performance, such as market conditions or investment. Research is also hampered by the lack of commonly agreed statistical measures. As well as boosting firm competitiveness, there is scope for creativity and design to generate wider economic gains. Consumers can benefit from greater variety and improved products. | Corporate Social Responsibility A Government update The Government has an ambitious vision for Corporate Social Responsibility To see UK businesses taking account of their economic social and environmental impacts and acting to address the key sustainable development challenges based on their core competences wherever they operate - locally regionally and internationally. Our strategy for advancing our vision is to c Promote business activities that bring simultaneous economic social and environmental benefits c Work in partnership with the private sector community bodies unions consumers and other stakeholders c Encourage innovative approaches and continuing development and application of best practice c Ensure we have decent minimum levels of performance in areas such as health safety the environment and equal opportunities c Encourage increased awareness open constructive dialogue and trust c Create a policy framework which encourages and enables responsible behaviour by business This supports the Government s strategy for sustainable development with its aims of integrating our objectives on social progress effective protection of the environment prudent use of natural resources and high and stable levels of economic growth and employment to ensure a better quality of life for everyone now and for generations to come. We want to encourage business practices that help to ensure successful and profitable companies and that also contribute fully to achieving our sustainable development goals. Today corporate social responsibility goes far beyond the old philanthropy of the past - donating money to good causes at the end of the financial year - and is instead an all year round responsibility that companies accept for the environment around them for the best working practices for their engagement in their local communities and for their recognition that brand names depend not only on quality price and uniqueness but on how cumulatively they interact .

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